Mayor pleased with limited rates increase

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South Taranaki's investment nest egg and a tight leash on spending should give ratepayers something to smile about.

The South Taranaki District Council rubber-stamped its 2014/15 rates figures last night, and mayor Ross Dunlop said he was pleased with the result.

The council managed to shave off nearly 2 per centage points off the forecast district rate of 4.9 per cent, which was set out in the council's long term plan.

That rate, which includes the uniform annual general charge and roading rate, now sits at 2.96 per cent.

Targeted rates for water, wastewater and kerbside rubbish and recycling will rise by $17, $15 and $23 respectively.

"Our investment strategy seems to be working extremely well with nearly $120 million now in our fund, against $112 million which was predicted," Dunlop said.

"That means we now have a bit of a buffer for those times when the markets are going to go against us."

Rates on a rural property with a capital value of $4 million will increase by $141 to $7930, an 1.81 per cent rise.

An urban ratepayer with a property valued at $240,000 will have fork out an extra $80 to $2324 (3.57 per cent).

Rates on a commercial property valued at $480,000 will rise by $64 to $3022 (2.18 per cent).

The council has also signed off on backing five key projects to the tune of about $136,000.

Everybody's Theatre in Opunake will be given $29,333 for a new kitchen area, $47,000 has been earmarked for repair and maintenance work at the town's community pool and $30,000 will be allocated to help develop the beach front - including a new boat ramp and sand removal.

The Hawera Memorial Theatre Friends Trust secured $25,000 to go towards their development programme and the Patea Old Folks' Association will get up to $5000 to revamp their hall.

Dunlop said they had completed almost all of their major infrastructure upgrades and by October the last of the big water projects would be completed.